Arsenal: Let’s be honest, this is probably it

Arsenal have confirmed or agreed to four deals already this summer. While it is nice to think that they may add more, realistically, their work is probably finished.

Transfer rumours are relentless. The media will always be able to find potential signings, especially for the top clubs with squads that are in need of some serious investment like Arsenal. But sometimes, just a little pinch of logic is all that is needed to see through their facade of accuracy and recognise their falsehood.

Catch the latest episode of the Pain in the Arsenal podcast right here

In previous summers, the problem has been that the Gunners had always delayed their transfer business. That meant that as the summer rumbled on fans grew increasingly desperate knowing that there was still money to be spent and the media were able to exploit that fact.

More from Pain in the Arsenal

• 3 standout players from 1-0 victory over Everton
• 3 positives & negatives from Goodison Park victory
• Arsenal vs PSV preview: Prediction, team news & lineups
• 3 talking points from Arsenal’s victory at Goodison Park
• Mikel Arteta provides Gabriel Martinelli injury update after Everton win

But this summer window has been handled very differently. Although only two deals have been officially confirmed and one of those is on a free, it is fair to assume that Arsenal actually have four signings in the bag: Stephan Lichtsteiner, a free-agent acquisition from Juventus, the first signing of the post-Arsene-Wenger era; Bernd Leno, the other official signing for a fee of around £20 million; and then Sokratis Papastathopoulos and Lucas Torreira for reported fees of £16 million and £26 million, both deals are expected to be completed in the coming days and weeks.

That comes to a spending spree of approximately £62 million in transfer fees. Only twice have Arsenal spent more than that amount in the summer window — two years ago with a haul that included Shkodran Mustafi and Granit Xhaka, and four years when they signed Alexis Sanchez, Danny Welbeck and Calum Chambers among others. It seems unlikely, then, that any more significant spending will come this summer.

Moreover, before the window really got rolling, there was a myriad of reports claiming that the club only had a budget of £50 million to spend. They have already overstepped that figure. At the end of May, Telegraph Sport claimed that Stan Kroenke had stretched the figure to £70 million, but even that only leaves another £8 million to spend. Hardly a penny in the modern market.

The historical tendencies and present-day budget beg a question: Is this it? Has Ivan Gazidis and his transfer brain trust finished their work? The answer is probably yes. Obviously, that does not mean that Gazidis and co. will not continue scouting Europe for potential opportunities, Gelson Martins on a free transfer from Sporting Lisbon being a prime example. But don’t be expecting any major signings any time soon.

The only way that will happen is through player sales. Perhaps Aaron Ramsey is unwilling to sign a new contract. Perhaps Alexandre Lacazette is told that he will be limited to a back-up role. Perhaps Shkodran Mustafi is deemed short of the necessary standard. Each could garner a fee of at least £20 million, with Ramsey and Lacazette closer to double that amount.

Next: Arsenal: 3 transfer sagas to keep an eye on

But there has been little talk of departures at Arsenal, few rumours of potential sales of the top players, unlike other years. And so, if they do indeed keep hold of many of their more established stars, then their spending is likely finished. It’s anti-climactic, I know, but it’s probably the truth.